More expansion for Flying Colours

FlyingColours

(PETERBOROUGH) Government funds are helping a local aviation company gain a footing in competitive international markets.
With a Bombardier CRJ900 aircraft towering in the background, Peterborough MP Dean Del Mastro announced Wednesday (Jan. 16) good news for Flying Colours, which will receive $900,000 through FedDev Ontario’s Prosperity Initiative.
The money comes in the form of an interest-free loan, which Flying Colours will pay back over six years.
The funds, which were approved last fall, have allowed the company to fast-track growth, according to Kate Gillespie Ahrens, vice president of corporate development for Flying Colours. Extensive training for staff has allowed the company to become an approved supplier and an authorized service facility for Bombardier Aerospace. The designation is opening is literally opening up a world of new business, including allowing Flying Colours to do warranty work at their shop.
“It’s huge,” says Ms Gillespie Ahrens, who adds the company’s customer base is dictated by capability.
More customers also means more jobs in Peterborough. Flying Colours has recently hired for 30 new positions and is looking to finalize 10 more by the end of March.
MP Del Mastro commended the company for its entrepreneurial drive and quality of workmanship.
“The pace of growth has really been something to admire,” he says. “They have markets all around the world.”
Over the years, MP Del Mastro has watched the business succeed, despite some tough economic times. One of their greatest strengths, he says, is recognizing Peterborough as a great place to do business.
“They recognized the skill set was here in Peterborough,” he says, adding there’s nothing companies can’t build, create or do here.
According to Ms Gillespie Ahrens, Flying Colours began to merge into the global market in 2008. Now, 50 per cent of their customers are based in Asia.
MP Del Mastro also notes president and CEO John Gillespie’s work with Fleming College to ensure local students can receive the training they need to work in the industry.
Several other federal and municipal officials were present to congratulate the company on its success, including Haliburton-Kawartha Lakes-Brock MP Barry Devolin and Peterborough Mayor Daryl Bennett, who praised Flying Colours for gaining solid ground in the business sector.
“In Peterborough we have a motto,” he says. “Nature provides, industry develops.”
Flying Colours, he says, has taken their role in industry and driven it forward with dedication and initiative proving the entrepreneurial spirit in Peterborough is alive and well.
“Business is not easy,” he says. “Never has been, never will be.”